Marsh expands in Australia and New Zealand with Honan deal
Global broker Marsh, a business of Marsh McLennan (MMC), has completed its acquisition of Honan Insurance Group, a specialist insurance broker in the areas of corporate risk, employee benefits, and strata and real estate insurance.
The acquisition, which was announced in August, enhances Marsh’s position in Australia and New Zealand’s corporate market segments and will offer “significant benefits” to clients of both companies.
Founded in 1964, Honan’s key offerings span corporate risk advisory and employee benefits. It also specialises in strata and real estate insurance services, offering residential, commercial and industrial, and build to rent advice to large residential buildings (strata committees), agents, and landlords in Australia and New Zealand.
Andrew Fluitsma, previously CEO of Honan, will become Marsh’s Pacific head of corporate and commercial. Marsh and Honan will begin bringing colleagues together in Australia, New Zealand, Singapore and Malaysia, with plans to complete co-location within the first quarter of 2024.
Josh Roach, who will become president of Marsh Pacific on 1 January, said: “This is an exciting new chapter; it’s about bringing two great businesses together, harnessing their respective strengths, and maximising the possibilities we will be able to achieve together for our clients, colleagues, and communities.”
Fluitsma said: “I’m incredibly pleased about our two organisations joining together, aligned around our shared values and ambitions, and enhancing the expertise and innovations we offer to the business community.”
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